Yao Song, founder of upstart Chinese artificial intelligence (AI) start-up DeePhi Tech, has a nickname: “Boss Yao”. The 25-year-old Tsinghua University graduate has been on a winning streak so far. After securing a victory at a national physics competition championship, Yao was admitted into China’s top university to study electrical engineering without having to take the university entrance exam. While at Tsinghua, he chaired a prominent student science association and organized innovation competitions on campus.
Beijing-based start-up Yi+, which uses computer vision and artificial intelligence (AI) to provide intelligent media and marketing solutions, has obtained US$15 million in a series B funding round, the firm announced.
China and the United States are both artificial intelligence superpowers. But China may soon be the clear leader, at least in terms of AI patents filed. The U.S. currently has more, with 35,508 AI patents, versus 34,345 for China. But as Chinese companies and scientists are filing AI patents at a faster pace, the nation is likely to hold more AI patents than the U.S. by year end, according to a report by Sequoia Capital China and Zhen Fund.
Zhifei Li, founder of Chinese artificial intelligence firm Mobvoi, once joked in a Wechat post that the best business model for a Chinese AI company was to become an Internet celebrity via smart marketing and then pivot to become an e-commerce firm. But, he added self-deprecatingly, “because I’m not handsome enough and my Mandarin is terrible, I choose to sell premium hardware powered by our own proprietary AI technology.”
Sequoia Capital China, the venture capital firm founded by renowned investor Neil Shen has stakes in 29 Chinese artificial intelligence (AI) start-ups. But while some other investors take a laser focused approach to the sector, Sequoia’s portfolio includes more broadly defined AI firms such as ride hailing giant Didi Chuxing that use AI as a key component of their business, along with pure AI tech research centered players like Mobvoi.
中文版请点击这里 The artificial intelligence (AI) revolution has begun. PwC estimates that thirty-eight percent of jobs in the U.S. are at high risk of being replaced by robots and AI within 15 years. Prominent Chinese AI investor Dr. Kai-Fu Lee predicts half the jobs in the world could be replaced by AI in ten years time.
Andrew Ng (pictured), former vice president and chief scientist at Baidu Inc., has stayed busy since leaving the Chinese search engine in March. After launching online courses on artificial intelligence (AI), Ng’s latest move is to raise a US$150 million venture capital fund to back AI start-ups.
China’s State Council issued a “New Generation Artificial Intelligence Development Plan” yesterday, outlining how the country will create the world’s leading AI industry, with a target value of RMB1 trillion (US$148 billion) by 2030. In the document, Beijing spelled out three steps to reach its goal of turning China Inc. into China AI. The first step is for China’s AI industry to maintain an advanced position in terms of AI technology and applications, and for the AI sector to become …
Chinese artificial intelligence start-up SenseTime has completed a US$410 million series B round, in what the company calls the largest private financing rounds ever closed by an AI start-up globally.
Artificial intelligence (AI) could accelerate China’s economic growth rate from 6.3% to 7.9% before 2035, by transforming the nature of work and opening new sources of value and growth, says Accenture in a new report.
The year 2016 has been called the dawn of the artificial intelligence (AI) age. In China alone, there were 202 investment deals worth RMB6.8 billion (US$1 billion) in AI start-ups during the 12 months ending June 30, 2016.
Liu Xing (pictured), a partner at Sequoia Capital China, spoke to China Money Network’s Nina Xiang earlier this week in Beijing on investing in artificial intelligence start-ups in China. Liu joined the venture firm in 2007, and specializes on seed, early and growth-stage companies in the consumer and TMT sectors. Watch the video interview and read a Q&A below: Q: How would you assess artificial intelligence investments in China right now? A: I think the whole AI sector (in China) …
James Zhou, founder of China’s biggest robot maker Ubtech Robotics, was fascinated by the Transformers show as a young boy in Shanghai during the 1980s. A few decades later, he’s turned his childhood passion into Ubtech, a US$5 billion technology powerhouse based in Shenzhen.
The global talent war for top artificial intelligence (AI) talent just intensified, as Chinese ride share giant Didi Chuxing officially launched an AI lab in California to attract top engineering talents to advance transformation in the global transportation industry.
Think of China as the world’s factory no more. The Middle Kingdom has been rising in technological sophistication at light speed in recent years, fueled by top-down policy encouragement and venture capital funding. Ten years from now the world’s second biggest economy – though China should already be the world’s biggest economy long before that – could well be the leading power in the next exciting tech frontier: artificial intelligence (AI), projects Dr. Kai-Fu Lee, founder of Sinovation Ventures and …
CloudMinds Inc., a Chinese start-up focused on the development of cloud intelligence-based applications backed by SoftBank Group Corp., aims to create a cloud intelligence ecosystem that combines the cloud, networks and terminals, it said today.